Presidents can move entire markets with a single sentence. Donald Trump, a former president, sent a single stock soaring with just three words: “I’m not selling,” he pronounced at a press conference on Sept. 13, when asked whether he would offload the millions of shares he owns in his social media company. Buoyed by this declaration of faith from its largest shareholder, the stock shot up 27% to $20.76, before closing the day at $17.97.
Later this month, for the first time since Trump Media & Technology Group (TMTG)—which owns Truth Social—went public, Trump will be allowed to sell his shares in the company. As the former chair of TMTG and a major insider, Trump is subject to a “lockup” provision that prevents insiders from selling stock in the newly public company before a certain date.
The lockup period for Trump, who owns about 57% of TMTG and is its largest stakeholder, will expire on Sept. 25 at the latest. If TMTG’s stock remains above $12, the lockup could end as early as Thursday, Sept. 19—a feat that looks increasingly likely. The price hasn’t dropped below $15 on any trading day since Aug. 22.
Trump currently owns 114.5 million shares of TMTG (ticker symbol: DJT), which are worth about $1.85 billion.
